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Tells it All - Namibian Sun

older | 1 | .... | 426 | 427 | (Page 428) | 429 | 430 | .... | 1152 | newer

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  • 07/12/17--16:00: Career ends for captain
  • Career ends for captainCareer ends for captainMathews resigns after Zimbabwe humiliation Sri Lankan cricket captain Angelo Mathews has stepped down amid intense criticism over his side's series defeat to bottom-ranked Zimbabwe on home soil. Mathews met with chief selector Sanath Jayasuriya to discuss his future with the team before a one-off Test against Zimbabwe beginning Friday, said an official with Sri Lanka's cricket board.

    “He has quit the captaincy from all three forms of the game,” the official said on condition of anonymity, referring to Test, one-day international and twenty20 formats of cricket.

    An official announcement of Mathews' resignation was expected later Wednesday, the official added.

    Mathews took the brunt of the criticism levelled at Sri Lanka's cricketers in the aftermath of their 3-2 series loss at home to minnows Zimbabwe on Monday.

    Mathews described the shock defeat as a low point in his career and a “hard pill to swallow”.

    It compounded woes for the struggling side, which entered the series without a coach after Graham Ford's sudden exit following their poor showing in the Champions Trophy last month.

    Sri Lanka's sports minister delivered the squad an ultimatum after that performance, ordering players get in shape or face the boot after declaring them unfit to compete on the world stage.







    NAMPA / AFP

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  • 07/12/17--16:00: Last British Grand Prix?
  • Last British Grand Prix?Last British Grand Prix?Costs too high, losses increase While there are attempts to reduce the costs of hosting the British Grand Prix, the contract has for now, been cancelled. The British Racing Drivers' Club will announce Tuesday they have ripped up their contract to host the British Grand Prix.

    The club, which owns the circuit, decided to trigger a break clause that releases it from hosting the race beyond 2019 because the cost is “potentially ruinous”.

    It informed Liberty Media - the sport's owner which banks the annual hosting fee - by the time it went public with the news during a press conference on Tuesday afternoon. The decision leaves the Grand Prix's long-term future in doubt just two days before teams and drivers arrive at Silverstone for the 2017 race.

    At the heart of the issue are Silverstone's losses - £2.8 million (N$43 million) in 2015 and £4.8 million (N$73.5 million) in 2016 - which would likely have got worse as the cost of hosting the event rises by 5% each year until 2026, the final year of the contract the club is leaving behind.



    Sustainable deal

    However, the British Racing Drivers' Club, a private group of about 800 members including the royalty of British motor racing from Sir Stirling Moss to Lewis Hamilton, has not given up on negotiating a more sustainable deal in the next few years.

    Silverstone is the only circuit capable of hosting the British Grand Prix, a position reinforced by the virtual collapse of absurd plans to build the Circuit of Wales in Ebbw Vale. A Grand Prix on London's streets remains as remote a possibility as ever, though Formula One cars will perform in a promotional event around Trafalgar Square on Wednesday night.

    Silverstone bosses had hoped Liberty would amend the terms of the old contract agreed with Bernie Ecclestone, the sport's former chief executive, but it refused to budge.

    A spokesman for Formula One Management, the umbrella organisation under Liberty's control, said on Monday: “We want a British Grand Prix and there is a desire from our side to see a race at Silverstone. Silverstone have a contract. They seem to be invoking the break clause, not us. We tried to help them in various ways. We now have three years to sort it out. We are willing to continue to negotiate with Silverstone to make it happen.”

    This year's race will be the first attended by Chase Carey, chief executive of Formula One Management. And Silverstone's organisers hope he will be bowled over by the unique atmosphere and an anticipated race-day crowd of about 140 000 - the biggest anywhere in the world.

    “We desperately want to keep the race,' said a source close to the British Racing Drivers' Club. “But it has to be affordable. It's as simple as that.”



    Strong position

    The British Racing Drivers' Club appears to be in a strong position. Liberty is torn. It cannot afford to lose the race set in the heartland of the world's motor racing community in the English Midlands, but it cannot cut Silverstone such a generous deal that it undercuts its own business, which is dependent on 20 or so promoters worldwide.

    Good weather and a British winner this weekend would act as the perfect showcase for Silverstone. Hamilton wants the latter to help him claw back his deficit to Ferrari's championship leader, Sebastian Vettel.

    Victory on Sunday would also see Hamilton join Alain Prost and Jim Clark as a five-times British GP winner.

    “This is an intense battle which I'm loving,” said Hamilton, whose fourth place in Austria last weekend left him 20 points behind Vettel. “I don't have a crystal ball but it doesn't look great at the moment.

    “The bigger that gap gets, the more the pressure builds. But there are still 11 races to go. Momentum can easily switch around in just one race.

    “It's important for people who are watching to have patience with us drivers. You're going to be p****d off sometimes because you put so much into it. You train, you sacrifice everything to make sure you get the best result possible.

    “So when you don't deliver and things are stacked against you, it's hard to come out smiling. People think that means you don't care enough, but the fact is I care more than I need to.”

    Silverstone has seen its share of fame and glory… in 1948, a staggering 120 000 crowd turned out at the converted airfield to watch Luigi Villoresi of Maserati christen Silverstone by winning the first post-war British Grand Prix. In 1987, Nigel Mansell smashed the lap record 11 times to catch Nelson Piquet... then with two laps to go fooled the Brazilian with a dummy move at Stowe to swoop by and win the race. Then, in 1995, Damon hill unwittingly helped compatriot Johnny Herbert claim his maiden victory when he crashed while trying to overtake title rival Michael Schumacher, taking both drivers out of the race. In 2008, Lewis Hamilton claimed the first of his four wins, storming to victory by 68 seconds following a masterful drive in appallingly wet conditions.

    IOL

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  • 07/12/17--16:00: China pushes Porsche sales
  • China pushes Porsche salesChina pushes Porsche sales Porsche has turned in the most successful half year in its corporate history thanks to its Macan SUV, and surging demand in its biggest market - China.

    A key profit driver for the Volkswagen group, Porsche said on Tuesday that worldwide deliveries climbed by 7% to 126 497 vehicles in the six months to the end of June compared with the same period in 2016.

    Porsche's announcement comes as it is drawn deeper into the emissions test scandal that has engulfed the VW group, with German prosecutors saying on Monday that they had launched an investigation into employees of Porsche and a US associate company over a possible involvement in the affair.

    The scandal emerged in September 2015 when VW admitted to cheating on emissions tests on about 11 million diesel-powered vehicles around the world.

    While the Macan remained Porsche's key pillar of growth, the Stuttgart-based carmaker said sales of its new Panamera raced ahead by 54% in the first six months of the year. Macan deliveries rose by 11% to reach 50 000, the company said.

    China, which is the world's biggest car market, is also now Porsche's largest single market with first-half deliveries rising by 18% to 35 864 vehicles in the period between January and June.

    While US sales rose 3%, sales were up 6% in Europe. Deliveries edged up by 1% in Porsche's home market in Germany.

    IOL

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  • 07/12/17--16:00: SA bakkie sales surprise
  • SA bakkie sales surpriseSA bakkie sales surprise Low growth, rampant state expenditure and credit downgrades have delivered South Africa into a technical recession.

    New vehicle sales are an excellent barometer of economic activity, with strong private automotive purchasing indicative of consumer confidence in medium term government policy and economic growth prospects.

    Interestingly, bakkie sales are an even more acute measure of this as they are used in many workhorse functions that passenger cars are not. The buying-patterns pertaining to bakkies are therefore a much truer reflection of operational spending health in the agricultural, mining and construction industries.

    If we collate the numbers and attempt to chart the trends, what have bakkie sales revealed about the first half of 2017? Not what you'd assume, at all. The results are a startling reality which counters everything economists, financial advisors and the Rand's trading bandwidth have been telling us about the health of our economy.

    Bakkie and light commercial vehicles sales are up 20% from total January to June 2017, with the comparative numbers being 11 486 versus 13 784 for those months.

    There are a few caveats, sure, but this trend is curiously positive in a market where passenger vehicles are down 29% when comparing January sales with those of June. That's a rather stark assessment, isn't it?

    What could the possible reasons be for the local bakkie market outperforming passenger cars by such a monumental margin, if both segments are subject to similar economic conditions of enabling (credit allocation) in a market of parallel demand and distribution?

    Agriculture is outperforming everything

    Despite the crippling drought conditions prevalent in the Western half of the country, South African agriculture reports record crops at a time when mining and manufacturing is dwindling.

    It's a year of record crops all-round (maize, soya, citrus) and we're exporting maize for the first time in years. The SA Agricultural Machinery Association (SAAMA) - like NAAMSA - has reported a 16.8% year-on-year increase in tractor sales.

    Farmers and companies appear to be converting the windfall into vehicles and those purchases are most likely to be bakkies; both commercial single-cabs and double-cabs, the latter bought as family vehicles.

    Serving this demand has been a selection of new bakkie launches during the first half of 2017, most noticeably the Nissan Navara and VW Amarok. Although Ranger and Hilux continue to absolutely dominate the market, with sales beyond 3000 units each, it's worth noting that both Ford and Toyota field vast model ranges in South Africa – covering every eventuality, from rudimentary single-cabs to luxurious double-cabs.

    In comparison Mazda, Mitsubishi and VW are now effectively double-cab only bakkie brands, with a consequently limited offering, which accounts for their minor market share. Triton and BT-50 sales are down from 64 to 40, and 45 to 33, measured as months of January and June. The explanation for these decreases are evidently simple: Navara. In January Nissan wasn't retailing any Navaras, yet in the month of June they had sold 137 of these new double-cabs, siphoning off market share from Mitsubishi and Mazda.

    And Isuzu? How is the most focussed of South African bakkie brands doing in the wake of its divorce from GMSA? Rather well, if we look at the numbers.

    Isuzu's KB range is the only true competitor for Ranger and Hilux in terms of derivative spread, and sales for June were 1178, up from 772 in January. True, that's only a third of what Ford and Toyota are doing in total but a 52% increase remains a terrific balance sheet entry none the less.

    The economy is in recession, new passenger vehicle sales are declining but the purchasing commitment for new bakkies remain undiminished. Supported by the fundamental reality of South Africa's size and the necessity of reliable, rugged, light commercial transport - bakkies are unfailingly in demand for their workhorse characteristics.

    Beyond the functional demand for single-cabs, there is another market force which cannot be ignored – and its influence on the passenger car market is clear. Some of the spend which would ordinarily have been destined for SUVs or D-segment cars are now being absorbed by the new range of more sophisticated, luxurious double-cab bakkies.

    With double-cab bakkies having finally evolved to a standard of ergonomic sophistication and drivetrain refinement which makes them rather car-like inside and to drive, without any compromise to that hallowed 1t loadability, the bakkie's aptness as a choice for South Africans who require a do-everything vehicle is unquestioned. Just look at the numbers.

    1: Ford Ranger 3 333 units

    2. Toyota Hilux 3 161 units

    3. Nissan Hardbody 1 206 units

    4. Isuzu KB 1 178 units

    5. Nissan NP200 1 067 units

    The Volkswagen Amarok manged a meagre 7th spot with 220 sales and the Nissan Navara did even worse coming in at number nine with 137 sales.

    WHEELS24

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  • 07/12/17--16:00: No words needed
  • No words neededNo words neededThe new Audi A8 simply takes the breath away Fancy a foot massage or an auto pilot? The Audi A8, due in Europe towards in the end of the year, can make it possible while en route. On Wednesday, the future began in the luxury class: The new Audi A8 made its world debut at the Audi Summit in Barcelona, Spain. In its fourth generation, the flagship model provides the benchmark for Vorsprung durch Technik – with a new design language, an innovative touchscreen operating concept and a systematically electrified drive. The Audi A8 is also the first production automobile in the world to have been developed for highly automated driving. From 2018, Audi will gradually be taking piloted driving functions such as parking pilot, garage pilot and traffic jam pilot into production.

    The Audi A8 is stylistically defining – it signals the dawning of a new design era for the entire brand. The front end with the wide, upright singleframe grille and the fluid, muscular body symbolise sporty elegance, sophistication and progressive status. The new A8 delivers on the promise made by the Audi prologue design study.

    The Audi brand is renowned worldwide for sports appeal and the balanced proportions emphasise all four wheels in equal measure. Muscular shapes above the wheel arches give visual expression to the quattro drive.

    Freedom is the defining design feature with a new luxury slant. This explains the A8's resemblance to a lavish, spacious lounge. Compared to the predecessor model, it has grown substantially in length in both body versions.

    The range of equipment and materials is extensive, with every detail radiating superlative bespoke quality – from the perforation in the seat upholstery to the electrically opened and closed shutters on the air vents.

    The classiest seat in the new Audi flagship model is in the rear right – the optional relaxation seat in the A8 L that comes with four different adjustment options and a footrest. In this seat, the passenger can warm and massage the soles of their feet on a unit with multiple settings incorporated into the back of the front-passenger seat. The new comfort head restraints complete the experience. The rear passengers can also control an array of functions such as ambient lighting, the new HD Matrix reading lights and seat massage, plus make private phone calls, via a separate operating unit. The rear seat remote, with its OLED display as large as a smartphone, is a removable unit housed in the centre armrest.



    Fingertip response: the controls

    The luxury sedan's interior deliberately adopts a reductive design; the interior architecture is clear and with a strictly horizontal orientation. Audi carries its high quality standards into the digital age with a radically new operating concept. It does away with the familiar rotary pushbutton and touchpad of the predecessor model. The instrument panel is kept largely clear of buttons and switches. At its centre is a 10.1-inch touchscreen display which, when off, blends almost invisibly into the high-gloss black surround thanks to its black-panel look.

    The user interface appears as soon as the car is opened. The driver controls the Infotainment system with fingertip control on the large display. They can use a second touchscreen display on the centre tunnel console to access the air conditioning and comfort functions as well as make text inputs. When the driver activates a function in the upper or lower display, they hear and feel a click by way of confirmation. The glass-look operating buttons respond in the same way. The combination of acoustic and tactile feedback along with the use of common touch gestures such as swiping make the new MMI touch response especially safe, intuitive and quick to use.

    The A8 can also engage in intelligent conversation. The driver can activate an array of functions in the automobile using a new, natural form of voice control. Information on destinations and media is either available on board or is delivered from the cloud at LTE speed. The extensive Audi connect range also includes traffic sign recognition and hazard information – innovative car-to-X services that draw on the swarm intelligence of the Audi fleet.



    The pilot-driving Audi A8

    The new A8 is the first production automobile to have been developed specially for highly automated driving. The Audi AI traffic jam pilot takes charge of driving in slow-moving traffic at up to 60 km/h on freeways and highways where a physical barrier separates the two carriageways. The system is activated using the AI button on the centre console.

    The traffic jam pilot manages starting, accelerating, steering and braking. The driver no longer needs to monitor the car permanently. They can take their hands off the steering wheel permanently and, depending on the national laws, focus on a different activity that is supported by the car, such as watching the on-board TV. As soon as the system reaches its limits, it calls on the driver to take back control of the task of driving.

    From a technical perspective the traffic jam pilot is revolutionary. During piloted driving, a central driver assistance controller (zFAS) now permanently computes an image of the surroundings by merging the sensor data. As well as the radar sensors, a front camera and the ultrasonic sensors, Audi is the first car manufacturer also to use a laser scanner. The introduction of the Audi AI traffic jam pilot means the statutory framework will need to be clarified in each individual market, along with the country-specific definition of the application and testing of the system. The brand's high quality standards are equally applicable in the realm of highly automated driving. In addition, a range of approval procedures and their corresponding timescales will need to be observed worldwide. Audi will therefore be adopting a step-by-step approach to the introduction of the traffic jam pilot in production models.

    The Audi AI remote parking pilot and the Audi AI remote garage pilot autonomously steer the A8 into and out of a parking space or a garage, while the manoeuvre is monitored by the driver. The driver need not be sitting in the car. They start the appropriate system from their smartphone using the new myAudi app.

    With a whole package of innovations, the suspension revisits the very limits of what is physically possible. One such innovation is dynamic all-wheel steering, which combines direct, sporty steering with unshakable stability. The steering ratio for the front wheels varies as a function of speed; the rear wheels are turned in or against the direction of steering depending on the speed range. The car's handling becomes even more dynamic and precise with the sport differential. This actively distributes the drive torque between the rear wheels, complementing the quattro permanent all-wheel drive that is now standard in the new A8.

    The second new technology, Audi AI active suspension, is a fully active suspension system. Depending on the driver's wishes and the driving situation, it is capable of raising or lowering each wheel separately with electric actuators.



    The drives

    The new A8 starts out in the German market with two extensively reengineered V6 turbo engines: A 3.0 TDI and a 3.0 TFSI. The diesel develops 210 kW (286 hp), and the gasoline version 250 kW (340 hp). Two eight-cylinder versions – a 4.0 TDI with 320 kW (435 hp) and a 4.0 TFSI with 338 kW (460 hp) – will follow later. The exclusive top engine version is the W12 with a displacement of 6.0 litres.

    The new Audi A8 and A8 L are being built at the Neckarsulm site and will appear on the German market towards the end of the year. In Europe expect to pay between N$1.2 million N$1.3 million.

    NEWS MARKET MEDIA

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  • 07/12/17--16:00: Stylish offroading
  • Stylish offroadingStylish offroading Land Rover has launched its all-new Discovery in South Africa this week, with prices starting at a fraction less than N$1 million.

    The new Discovery is available with two 3-litre V6 engines, a super-charged petrol (250kW/450Nm SD6) and a turbo diesel (190kW/600Nm TD6). Both versions are mated to an eight-speed auto.

    The new SUV is available in four specifications - S, SE, HSE, HSE Luxury. Only 34 'First Edition' units, sporting unique kit, are available in SA.

    The new model features Land Rover's permanent 4WD system to deliver all-weather and all-surface capability.

    Though all-wheel-drive is standard buyers can opt for the Capability Plus Pack, which adds an active rear-diff as well as automaker's Terrain Response 2 system that includes a two-speed transfer box (with low-range) and terrain settings.

    The Discovery has a ground clearance of 283mm and approach and departure angles of 34 degrees and 30 degrees respectively, with a breakover angle of 27.5 degrees. Maximum wading depth is 900mm.

    Details:

    3.0 Litre TD6 Diesel (190kW) – From R980 000

    Power: 250kW/450Nm

    Maximum Speed: 215km/h

    Acceleration 0-100 km/h in 7.1 sec

    Fuel consumption - 7.8 litres/100km

    CO2 combined emissions (g/km) - 207g/km

    3.0L Si6 Petrol (250KW) – From R1 018 500

    Power: 250kW/450Nm

    Maximum Speed: 215km/h

    Acceleration 0-100 km/h in 7.1 sec

    Fuel consumption - 11.5l/100km

    CO2 combined emissions (g/km) - 263g/km

    Inside

    The new SUV is fitted with iOS and Android connectivity combined with a 14-speaker Meridian digital surround system, an additional subwoofer, and 3G WiFi.

    WHEELS24

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    Panguleni aakomeho yoSME Bank - NafinuPanguleni aakomeho yoSME Bank - Nafinu Ehangano lyoNamibia Financial Institutions Union (Nafinu) olya pula opo omunashipundi gwelelo lyombaanga yoSME Bank oshowo iilyo yelelo lyombaanga ndjoka mboka ye na mo olunyala mepiyaganeko lyombaanga ndjoka opo ya pangulwe kwiikwatelelwa koCompanies Act.

    Eindilo ndyoka olya ningwa kaaniilonga yombaanga ndjoka mEtiyali, pethimbo ya gandja omukandanyenyeto gwawo kuamushanga muuministeli wiipindi, Gabriel Sinimbo.

    Sho a lesha omukandanyenyeto gwaaniilonga mboka, amushanga- ndjai gwoNafinu, Asnath Zamuee okwa popi kutya aaniilonga oya futithwa ondjambi yoohandimwe mboka ya teya po ombaanga ndjoka.

    “Otatu pula opo mboka ya katukilwe oonkatu, pateni omayalulo gawo goombanga nokukutha ko omaliko gepangelo e ta mu yapatelemo.”

    Zamuee okwa popi kutya aaniilonga oyiiyadha monkalo yi li ngaaka omolwa AaZimbambwe mboka ya teya po ombaanga ihe ngashiingeyi oya shuna koshilongo shaandjawo.

    Okwa tsikile kutya aaniilonga yAaZimbabwe mboka ya gumwa konkalo oya mona nale iilonga mombaanga yoMetropolitan Bank of Zimbabwe,ndjoka yi li yimwe yomaaniipambuluko mombaanga yoSME Bank.

    Ombaanga yoSME Bank oyi li oshiputudhilo shepangelo lyaNamibia ndyoka li na mo iipambuliko (65%), Metropolitan Bank of Zimbabwe (30%) oshowo omunangeshefa gwaZimbabwe Enock Kamushinda (5%).

    Elelo lyoSME Bank olya li lya kwatelwa komeho kuamushanga gwokabinete kaNamibia,

    George Simataa ngoka e li omunashipundi, Petrina Nakale, Theofelus Mberirua, Milka Mungunda, Kamushinda naOzias Bvute ngoka a li omunambelewa omukuluntu gwombaanga.

    Zamuee okwa popi kutya Nafinu okwa li a gandja omapulo gontumba mo-2014 kombinga yombaanga yoSME Bank koBank of Namibia, ihe omapulo ngoka inaga talika.

    “Otwe ya lombwele kombinga yoomiliyona dha tulwa momayalulo gopetty cash gombaanga ndjoka. Omakemo getu inaga talika ihe ngashiingeyi otse tatu futu ondando yendopo lyepangelo okukondolola aazaizai.”

    Okwa popi kutya uuministeli womatembu inawu ninga po sha konima sho wa lombwelwa kombinga yomwaalu omunene gwaaZimbabwe mboka taya longele ombaanga ndjoka yaana omikanda dhiilonga.

    Ehangano ndyoka olya popi kutya olya pula uuministeli womatembu kutya otashi ende ngiini aazaizai mboka ya longele ombaanga ndjoka omanga ka ye na omikanda dhiilonga ihe inaya yamukulwa.

    Zamuee okwa popi kutya omolwashike ombaanga ndjoka itayi pewa ekwatho lyiimaliwa ngaashi owala iiputudhilo yimwe po hayi pewa ekwatho okuza kepangelo ngaashi omahangano goAir Namibia, TransNamib, NBC.

    Ehangano olya popi woo kombinga yemweno lyomupresidende Hage Geingob kombinga yoshikumungu shoka.

    Sho ya pulwa kutya ngashiingeyi otaya ningi po shike, Zamuee okwa popi kutya ngashiingeyi otaya ka ya moonkundathana dhiifuta yaaniilonga yokuza miilonga.

    Omupanguli mOmpangu yoPombanda mOvenduka, Hannelie Prinsloo okwa ningi etokolo mEtiyali opo ku patwe manga ombaanga ndjoka.

    Ian Mclaren naDavid Bruni oya ulikwa koMaster of the High Court opo ya ungaunge niikumungu yombaanga ndjoka.

    OGONE TLHAGE

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    Nujoma a ninguluka kombinga yoonkundathana dhevi lyuuthigaNujoma a ninguluka kombinga yoonkundathana dhevi lyuuthigaOshikumungu shevi lyuuthiga tashi ka kundathwa muSepetemba Etokolo olya ningwa kombinga yoonkundathana dhevi lyuuthiga, sho ominista yomatulululo oshiwike shika ya holola kutya oonkundathana kombinga yevi ndyoka otadhi vulu okukakundathanwa pethimbo lyomutumba gwevi ngoka tagu ningwa okuya ehulilo lyomvula. Ominista yOmatulululo gEvi, Utoni Nujoma okwa holola a ninguluka nokutokola opo oshikumungu shevi lyuuthiga shi ninge shimwe shomiikundathanwa tayi ka kundathanwa pethimbo lyomutumba gwevi ngoka tagu ningwa momwedhi Sepetemba.

    Nonando Utoni okwa li a tindi opo oshikumungu shoka shi kundathanwe ta popi kutya otashi hwahwameke uukwamuhoko, okwa popi omatumbulo ga yooloka kwaangoka pethimbo lyoshigongiiloga shoka sha ningilwa mOvenduka, sha nuninwa oonkundathana omanga inaku ningwa oshigongi shevi shoka kwa tegelelwa shi ningwe.

    Moshigongi shoka sha ningwa mOmaandaha, Nujoma okwa popi kutya oonkundathana kombinga yevi lyuuthiga otadhi vulu okuningwa molwaashoka oshi li uuthemba waantu okuninga omaindilo goludhi ndoka, ta gwedhwa po kutya epangelo lyaNamibia oli na oshinakugwanithwa shokusila oshisho AaNamibia ayehe.

    “Epangelo lyaSwapo olya kondjele emanguluko lyoshilongo shika, na olya tokola kutya oshikumungu shoka inashi kundathanwa pethimbo ndyoka,” Nujoma ta ti.

    Oonkundathana kombinga yevi lyuuthiga inadhi kundathanwa pethimbo lyomutumba gwevi ngoka gwa ningwa mo-1991 konima oshilongo sho shamanguluka.

    Aakuthimbinga momutumba ngoka oya pula opo ku totwepo ongundu yokomitiye yiikundathwa mbyoka, na inashi patanekwa kaaunganeki yomutumba.

    Oshigongiilonga shoka sha nuninwa elongekidho lyomutumba gwevi gwopashigwana gwaSepetemba, osha egulukila kehe omuntu ngoka a hala okukutha ombinga moonkundathana dhoka.

    Oshigongiilonga shoka osha kundathana uutokolitho 24 mboka wa li wa tulwa miilonga pethimbo lyomutumba gwotango ngoka gwa ningwa mo-1991.

    Momaandaha, Nujoma okwa lombwele aakuthimbinga momutumba kutya uuministeli we otawu ka tambula omagwedhelepo kehe.

    Elalakano lyomutumba ngoka tagu ningwa muSepetemba, okuninga omatalululo nokutala ngele uutokolitho mboka wa ningwa pethimbo lyomutumba gwotango owa tulwa tuu miilonga. Omutumba ngoka ogwa nuninwa woo okutala komaupyakadhi ngoka ga talela onkalo yetopolo lyevi nomatulululo moshilongo.

    Minista okwa tsikile ko kutya elalakano lyokuninga omutumba ngoka kali shi lyokwiipopila ihe okuuva omagwedhelepo okuza mokati koshigwana nokukonga omikalo dhokukandula po omaupyakadhi ngoka ga taalela omatululo gevi moNamibia.

    Okwa popi kutya osha simana opo ya gandje ompito kaaNamibia ya gandje omaivo gawo nomagwedhelepo gawo kombinga yonkalo ndjoka na okwa pula aakuthimbinga ayehe moshikumungu shoka yiitulemo megandjo lyomadhilongo gomondjila opo ku vule okukandulwa po omukundu ngoka gwa taalela onkalo yomatulululo gevi moshilongo.



    FRED GOEIEMAN

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    Euliko lyomunambelewa gwoCRO mOhangwena inali pwaEuliko lyomunambelewa gwoCRO mOhangwena inali pwa Omutumba ngoka ga ningwa kiilyo yelelo lyoshitopolwa shaHangwena oshowo Ominista yEyambulepo lyOondoolopa nIitopolwa, Sophia Shaningwa muMei nuumvo inagu kandulapo omukundu gwokuulika omunambelewa omupe gwochief regional officer moshitopolwa shoka.

    Osheendo shaanambelewa osha yi kOvenduka opo shi kundathane naShaningwa nokupewa omayele kuye kombinga yeuliko lyomunambelewa ngoka okuza momusholondondo gwaamboka ya tothwamo.

    Omunashipundi gwokomitiye yelelo lyoshitopolwa shoka, Erikson Ndawanifa, ina vula okugandja uuyelele kombinga yoshizemo shomutumba ngoka ya ningi naShaningwa ihe okwa koleke kutya okwa ningwa omutumba naminista.

    “Omutumba ogwa ningwa ihe itandi vulu oku ku pa uuyelele woshizemo shomutumba molwaashoka natango owa holekwa. Shoka tandi vulu okukulombwela ooshoka owala kutya ope na owala iinima iishona twa pumbwa oku yi ninga omanga inatu ulika omunambelewa ngoka omupe,” Ndawanifa ta ti.

    Oomvula mbali dha piti monena, konima sho ookandindate dhoka dha ningilwa omapulaapulo kombinga yopoosa ndjoka.

    Momvula yo-2015, Elelo lyoshitopolwa shaHangwena olya ningi uukonaakono womapulaapulo opo ku vule okumonika omunambelewa gwoCRO opo kupingenepo Daniel Kashikola ngoka a ningi oshilyo shomutumba gwopaliamende oshowo omupeha minista gwOshikondo shOpolisi mo-2015.

    Ominista yEyambulepo lyOondoolopa nIitopolwa, Sophia Shaningwa pamwe noPublic Service Commission oya tindi euliko lyomunambelewa ngoka nomatompelo kutya elelo lyoshitopolwa shoka inali landula omilandu.

    “Eeno oshili kutya otwa ningi omakonaakono gomapulaapulo omimvo mbali dha piti. Monena oshikumungu shika osha piyagana molwaashoka otwa manitha nale omapulaapulo na otwa ulike omuhogololwa gwetu ihe okomisi yaaniilonga yepangelo oye tu pe elombwelo opo tu ninge oshinima shimwe,” Ndawanifa a li a popi.

    “Oshinima shimwe oshoka kutya ompango yelelo lyiitopolwa otayi utha kutya omauliko gwomunambelewa gwoCRO ga ningwe mekwatathano nominista. Sho twa ningi euliko lyetu ina tu ninga ekwatathano nOminista yIitopolwa, Sophia Shaningwa, onkene itatu vulu okuya komeho nekuto miilonga lyomunambelewa ngoka, sigo minista a ningi etokolo yemwene.”

    Ndawanifa okwa popi kutya shoka itashi ti oye na oontamanana pokati kelelo lyawo nokomisi yaaniilonga ihe oya pumbwa owala okutula pomahala iinima yilwe.

    Omunambelewa omukomeho nale gwomayakulo ga kwaluheke , Phillip Uusiku, oshowo Omukomeho gwoompangela, Fellep Shilongo, oyo ya kala taya longo pehala ndyoka.

    ILENI NANDJATO

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  • 07/12/17--16:00: SME Bank ya patwa
  • SME Bank ya patwaSME Bank ya patwaOonakupataneka eindilo ndyoka ya pewa sigo omasiku 15 gaSepetemba Ompangu yoPombanda mOvenduka oya tokola mEtiyali po ku patwe manga ombaanga yoSME Bank, sha landula eindilo ndyoka lya li lya ningwa kombaanga onene moshilongo Bank of Namibia. Omutokoli Hannelie Prinsloo, konima sho uuvu omapopilo gomukalelipo gwombaanga yoBank of Namibia (BoN) oshowo omaipopilo gomukalelipo gwaaniipambuliko mombaanga ndjoka mboka yeli AaZimbambwe, okwa ningi etokolo opo ombaanga ndjoka yi patwe manga naamboka taya pataneke etokolo ndyoka oye na sigo omasiku 15 gaSepetemba opo ya popye kutya omolwashike ombaanga ndjoka itayi vulu okupatwa.

    Advocate Andrew Corbett (SC), pamwe naAdvocate Deon Obbes, mboka ya kalelepo oBoN oya popi kutya okuya mOmaandaha goshiwike shika, ombaanga ndjoka oyi na owala iimaliwa ya thika poomiliyona 3.8 komayalulo gawo gombaanga moka mwa pumbwa okukutha oshimaliwa shoomiliona 500 sha landula omaindilo gaali ga tulwa kaapunguli aanene mombaanga ndjoka.

    Corbett okwa gwedha po kutya embangoloto lyombaanga ndjoka otali ka kala li na oshilanduli oshinene keliko lyoshilongo.

    Ombaanga okwa hololwa yi na oongunga dhoobiliyona 1.06 nonando ompango yoombaanga otayi pula opo ombaanga kehe yi kale yi na oshimaliwa shoopresenda 10 shomiimaliwa mbyoka, nopomayalulo goSME Bank andola oku na oomiliyona 106.

    Corbett okwa lombwele ompangu kutya oNational Energy Fund, ndjoka yapungula oshimaliwa shoomiliyona 400 oshowo oGIPF, ndjoka ya pungula oomiliyona 100, ayehe oya hala iimaliwa yawo.

    Corbett okwa popi kutya pakupopya oSME Bank oya mbangolota molwashoka omikuli dhawo odhi vule iimaliwa mbyoka yi na, pe na eyooloko lyoomiliyona 998.

    Sisa Namandje, ngoka a kalelepo aaniipambuluko mombaanga moka AaZimbambwe yaali, okwa tamaneke eindilo lyoBoN.

    Namandje okwa lombwele ompangu kutya nonando SME Bank ke na iimaliwa itashi kala pauyuuki oku mu pata, ta gwedha po kutya andola eindilo ndyoka otali ningwa kwaamboka ye na omapungulo gawo mombaanga ndjoka ihe hako BoN.

    Bank of Namibia okwa kutha ko ekondololo lyombaanga ndjoka muMaalitsa gwonuumvo sha landula epungulo tali limbilike ndyoka lya ningwa moSouth Africa lyoomiliyona dha thika po-175.

    Sho a yambidhidha oolopota dhiimaliwa dha dhombaanga ndjoka omukomeho gwoBoN, Romeo Nel okwa holola kutya ombaanga yoSME Bank andola oya mbangolota nale okuya momasiku 27 haJuni nonando iimaliwa mbyoka ya pungulwa moSouth Africa oya monika.

    Ngoloneya gwoBoN, Iipumbu Shiimi okwa popi kutya epangelo lyaNamibia ndyoka li li omuniipambuliko omunene mombaanga ndjoka olya holola kutya itali tula we iimaliwa mombaanga ndjoka naaniipambuliko mboka aashona inaya hololwa ohokwe yo kutula iimaliwa mombaanga opo andola kayi pate.

    JAQUELINE LOUW

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  • 07/12/17--16:00: SA business confidence low
  • SA business confidence lowSA business confidence low South Africa's consumer confidence slipped deeper into negative territory in the second quarter, highlighting households' concerns about the weak outlook for the economy, a survey showed on Wednesday.

    The consumer confidence index, sponsored by First National Bank and compiled by the Bureau for Economic Research, slumped to -9 in the second quarter after registering -5 in the first three months of the year.

    “Despite the recent deceleration in food inflation, food prices remain very high and will continue to dampen the real purchasing power of consumers, especially for low income households,” FNB senior economic analyst Jason Muscat said.

    “Per capita real disposable income is set to deteriorate further on the back of exceedingly poor economic growth, little to no job creation, and substantial increases in personal income taxes for middle and high-income earners,” he added.

    South Africa sank into recession for the first time in eight years in the first quarter, hit by weakness in consumer sectors such as wholesale, retail and accommodation.

    NAMPA/REUTERS

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    Banks jointly set up blockchainBanks jointly set up blockchainLenders behind national blockchain No single company can launch its own proprietary blockchain that will change the status quo, hence the partnerships. South Africa's largest and notoriously competitive financial services firms have come together to set up a national blockchain.

    The South African Financial Blockchain Consortium (SAFBC), comprising 22 industry heavyweights, the South African Reserve Bank and the Financial Services Board as observers, is currently exploring the technology powering the US$41 billion bitcoin market.

    Blockchain technology is widely expected to up-end the global economy by revolutionising the way in which companies and consumers transact with each other.

    SAFBC is examining the technology with a view to make the current system more efficient and give rise to significant cost savings over the long term.

    “It is remarkable that 24 institutions, generally perceived as competitors, recognise that the only way to unleash the potential of this tremendous technology is through collaboration, said Farzam Ehsani, SAFBC chairman and blockchain lead at Rand Merchant Bank.

    “No single company can launch its own proprietary blockchain that will change the status quo and bring about transformative benefits to the financial system. Collaboration is required.”



    Collaboration

    Collaboration among local firms is crucial in setting up a domestic standard.

    Firms may only transact with each other if they adopt the same blockchain platform. Moneyweb previously reported that a group of South African banks, which form part of SAFBC, had successfully swapped an asset among themselves using a private ledger on the ethereum network in 2016.

    In addition to ethereum, the SAFBC is now setting up “permissioned” ledgers on the Corda, Hyperledger and Chain Core platforms.

    All four blockchain platforms are currently being explored by financial institutions across the world, with one widely expected to be recognised as the global standard.

    At this stage, talk among the SAFBC centres is around reducing inefficiencies and opportunities to save costs for institutions and end consumers, Ehsani said.

    He added that costs in financial systems are very high, and ultimately get passed on to customers.

    Blockchain-based record keeping within banks is expected to boost efficiency and bring down account fees over time.

    It is expected to reduce the need for proof-of-payment e-mails — the payment itself being the proof in real time — and to speed up the clearing of cross-border transactions.

    “Ultimately, the concept of cross-border payments will become as silly as the concept of cross-border e-mails,” Ehsani said.

    “Financial institutions need to adapt to better serve consumers. This technology promises greater efficiency and reduced costs and could open up the ecosystem to new players, ultimately benefitting consumers,” he added. SAFBC's ongoing goals include educating the public about blockchain and demonstrating its power.

    It also aims to test its chosen blockchain platforms by issuing and swapping tokens across the networks and to rigorously test the scale and security of each network.

    It will also explore using a permissioned distributed ledger to store identity information so as to lessen the administrative requirements and costs associated with know-your-customer, or KYC, and the Financial Intelligence Centre Act.

    At present, SAFBC's membership is limited to institutions that operate within financial services.

    It comprises a technical sub-stream, made up of developers employed by its members, and a regulatory sub-stream, which is to solve regulatory hurdles and engage with oversight bodies.

    “The beauty of the SAFBC is that all of us, financial services players and regulators as observers, come together to explore a better way to serve South Africa's financial needs,” said Ehsani.

    MONEYWEB

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    Agra gives to Intervention CentreAgra gives to Intervention Centre Agra recently donated N$15 000 to the Side by Side Early Intervention Centre, a non-profit organisation for children with special needs.

    Speaking at the handover, Agra's manager for properties, Henning Tiemann, emphasised the importance of community engagement, saying the organisation would assist in building strong communities.

    “Agra is greatly aligned to community support. Hence, we have identified an organisation that fits into this profile to benefit from our charity initiative. Children are the future, and the little contribution we made, will assist them to integrate into the community, positively contributing to the Namibian economy in future and will possibly also create awareness of their existence, nationwide”, he said.

    The donation was made through the Agra Staff Initiative Fund, which was established and is sustained by donations from compassionate Agra employees who feel strongly about making a difference in the Namibian community.

    STAFF REPORTER

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  • 07/12/17--16:00: Help for orphans
  • Help for orphansHelp for orphansStandard Bank aids over 1000 FAWENA beneficiaries Over the years, Standard Bank has committed itself to supporting the Forum for African Women Educationalists Namibia. This week, Standard Bank celebrated the success of its Forum for African Educationalists Namibia initiative which has seen it benefit over 1 000 beneficiaries since its inception.

    Speaking at a celebratory event this week, Standard Bank's head of marketing, Sigrid Tjijorokisa, said the project helped many young female school learners excel.

    “Since its inception, this project has proved to be very fruitful as we have seen many of its recipients graduate from high school and thrive at institutions of higher learning,” Tjijorokisa said.

    The recipients of this sponsorship were very grateful with many of them hailing the bank for its selfless contributions towards their futures. One such beneficiary was 19-year-old David Hofeni, doing grade 12 at Andimba Toivo Ya Toivo Secondary School in the Oshana Region.

    “I live with both my parents in a rural community without electricity. Although both my parents are unemployed, my mother tries to make a living by selling traditional drinks and a few other smaller things which is how my family gets by,” Hofeni said of his background.

    Before he became a recipient of the FAWENA initiative, he had to go to school barefoot and was often laughed at by his peers when he would wear torn shoes. However, this was not a deterrent for Hofeni who always maintained good grades and was a star pupil.

    “The Standard Bank scholarship made a big difference in my life as all my basic needs were covered by the scholarship. I don't have to worry about how I smell because I could not afford toiletries and I don't have to go to school barefoot anymore. I am very grateful to the Bank and FAWENA for giving me the opportunity to achieve my dreams,” he said.

    His fellow recipient Rauna Negumbo was equally grateful for the financial aid from the organisation. The 16-year-old grade 11 learner at Eheke Senior Secondary School said she became a recipient after her father's death.

    “I live with my mother, grandmother and five siblings. We do not have a lot of income coming in as we all rely on my grandmother's pension. My life has been a struggle because my mother has been unable to provide for my school needs, she is uneducated and has not been able to find a decent job,” she said.

    STAFF REPORTER

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    Strategy for 5th plan kicks offStrategy for 5th plan kicks offMinister calls for buy-in The NDP5 Implementation Plan has 80 programmes that are to be implemented through 178 projects over the next five years. The strategy that will guide NDP5 implementation over the course of its life was launched in the National Assembly by the deputy minister of economic planning, Lucia Iipumbu, yesterday.

    According to her, extensive consultations were carried out to guide the steering of the N$164 billion plan.

    “Regional consultations were also held in all 14 regions and the draft document was subject to public commentary to ensure that the voices of fellow citizens were heard,” Iipumbu said of the buy-in sought.

    Speaking in the National Assembly yesterday, she said that the implementation plan would be guided by 80 programmes that would be realised through 178 projects.

    “In total, the NDP5 Implementation Plan has 80 programmes that are to be implemented through 178 projects over the next five years. These projects and programmes therefore reflect our collective needs and the efforts that we will put in place to fight the identified challenges,” said Iipumbu.

    Of the total, N$73.3 billion would be for physical infrastructure expansion and modernisation in the water, information communication technology sectors, N$32 billion for investment for social development protection, youth empowerment and sports development, N$30 billion for investment in education, health and nutrition, N$19.4 billion to enable structural transformation, N$7 billion for good governance and N$2.6 billion for environmental sustainability.

    She pointed that the identified projects will be funded from a multitude of sources, such as through government budgetary allocation, private sector funding, funding from development finance institutions, institutional savings, PPPs donor funding where appropriate.

    She called for broad participation in the fulfilment of the NDP5 plan.

    “Let me emphasise that a successful implementation of the NDP5 depends on all of us as a nation. I therefore call upon everybody to take ownership of NDP5 and work towards the attainment of the desired goals set,” concluded Iipumbu.

    OGONE TLHAGE

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  • 07/12/17--16:00: CRAN proposes price caps
  • CRAN proposes price capsCRAN proposes price caps The Communications Regulatory Authority of Namibia hosted a consultative meeting this week on the proposed regulations prescribing tariff limits for telecommunications services.

    The proposed regulations prescribing tariff limits for telecommunications services will apply to licensees that are deemed to be dominant operators in the market for national data transmission and for those operators who provide telecommunications services for the pre-arranged connectivity in the form of leased lines such as Telecom which allow smaller operators to use its infrastructure in the provision of telephony services.

    “The purpose of these regulations is to prescribe price caps, which licensees may charge for leased line and other pre-arranged connectivity,” said CRAN CEO Festus Mbandeka.

    “CRAN increased the price caps with inflation from the original cost study which was completed in 2015 due to the fact that this decision was to ensure that Telecom Namibia is not negatively affected as a provider of leased lines.”

    Mbandeka added that the commencement of these regulations would be effective 1 January 2018, subject to amendments of the relevant regulatory nitty-gritties.

    “This will provide operators in the market enough time to implement the regulations and apply for new tariffs,” he explained.

    STAFF REPORTER

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    Krohne highlights dispossession at land consultationsKrohne highlights dispossession at land consultations Keetmanshoop mayor Gaudentia Krohne on Wednesday urged //Karas delegates to the regional consultations on land reform to freely speak their minds on land dispossession.

    During her welcoming address at the opening of the two-day meeting held in Keetmanshoop, Krohne said the meetings afford Namibians a platform to sincerely discuss their concerns about land.

    She advised //Karas residents to make full use of the opportunity to give powerful inputs as those directly affected by the historic loss of land.

    “History tells us that though many Namibians lost land, the Nama and Ovaherero people, particularly, were the ones most affected by dispossession,” she said.

    The meeting is hosted by the

    //Karas regional council and the ministry of land reform to garner inputs ahead of the Second National Land Conference set for 18 to 22 September 2017.

    Regional consultations are scheduled to take place in all 14 regions of the country.

    //Karas governor Lucia Basson, on her part, called on delegates to be mature, open and serious in their contributions and to submit concrete recommendations.

    “Speak up and do not blame others, speak up, but speak sense,” she said.

    Basson said the land question is a political, social and economic issue for Namibians.

    “It is about addressing dispossession, equity and promoting productive and sustainable livelihoods through implementing programmes targeted at poverty eradication,” she said.

    The governor commended plans by the ministry of land reform to review decisions taken during the first national land conference in 1991.

    “Twenty-seven years after implementing the first consensus resolutions, the ministry, as articulated in the Harambee Prosperity Plan, found it important to re-group, consult and accord the nation the platform to contribute on the direction the land reform process should take,” she said.

    The //Karas meeting is attended by delegates, including members of the //Karas Regional Resettlement Committee, various local and traditional authorities and farmers' unions.

    NAMPA

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  • 07/12/17--16:00: Lockdown in Zambia
  • Lockdown in ZambiaLockdown in ZambiaParliament approves 90-day state of emergency Opposition boycotts vote, calls President Edgar Lungu's emergency decree a plot to 'silence critics and kill democracy'. Zambia's parliament has approved a 90-day state of emergency decreed by President Edgar Lungu in a move critics say is an effort to tighten his grip on power.

    Opposition legislators boycotted the vote on Tuesday, leaving only the 85 members of the president's majority party to pass the measure.

    Lungu invoked the emergency powers last week, alleging that opposition parties were behind a string of arson attacks intended “to create terror and panic,” including one that burned down the main market in the capital Lusaka.

    Nobody was killed or injured in the blaze.

    Political tensions in Zambia, seen as one of Africa's more stable and functional democracies, have been rising since the arrest on treason charges of main opposition leader Hakainde Hichilema, who narrowly lost to Lungu in a bruising election last year.

    Hichilema, along with five others, is accused of trying to overthrow the government after a column of opposition vehicles failed to make way for the president's motorcade.

    Ruling Patriotic Front legislators voted to give law enforcement agencies “enhanced measures” to curb “rising cases of politically motivated fires and vandalism of vital electricity supply lines”.

    Under Zambian state of emergency laws, police can prohibit public meetings, close roads, impose curfews and restrict movements.

    Lungu's aide, Amos Chanda, said the emergency measures “were deemed necessary to restore public order” and that civil liberties such as free movement had not been suspended.

    Hichilema's United Party for National Development (UPND) has accused Lungu of endangering the country's democracy and plotting a dictatorship.

    Some 48 UPND legislators could not take part in Tuesday's vote as they had been suspended by parliament for boycotting an address by Lungu in March.

    The emergency decree “constitutes abuse of power designed to silence his critics and kill democracy,” UPND vice president Geoffrey Mwamba said in a statement on Monday.

    “It is clear that (Lungu's) actions are premeditated and designed to strengthen the hand of dictatorship.”

    Mwamba denied any UPND involvement in the fires.

    “Innocent Zambians will be arrested on mere suspicion just to fulfil the Patriotic Front's political agenda to remain in power forever,” he said.

    Church leaders in Zambia have also criticised the emergency powers, warning the move would scare away investors needed to boost Zambia's weak economy.

    “This is a clear sign of dictatorship - just because of a fire at a market and you declare a state of emergency?” Bishop Simon Chihana, president of the International Fellowship of Christian Churches, told the AFP news agency.

    “Lungu is only thinking about his continued hold on to power. He is not concerned about the well-being of Zambia.”

    The country's last state of emergency was declared in 1997 by then president Frederick Chiluba after an attempted coup. It was lifted the following year.

    Zambia says emergency rule may end early if sabotage stops as the president may revoke emergency powers before they expire in 90 days if there is an end to the “acts of sabotage” they were meant to quell, his spokesman said on Wednesday.

    Chanda said police were making progress in investigations into a spate of arson attacks on markets and court houses, and had observed no new incidents since Lungu announced the emergency powers a week ago.

    – Additional reporting by AFP

    NAMPA/REUTERS

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    Nigerian VP back in Abuja after Buhari meetingNigerian VP back in Abuja after Buhari meeting Nigeria's vice-president has returned from a whistlestop trip to meet ailing President Muhammadu Buhari in London and will chair Wednesday's weekly cabinet meeting, his spokesman said.

    Acting President Yemi “Osinbajo now back in Abuja from London & will be presiding over FEC (federal executive committee) this morning,” tweeted Laolu Akande.

    He also pledged to share “more information” about Osinbajo's encounter with Buhari, describing it as “a very good meeting”.

    Osinbajo, who has been acting president since Buhari left for medical treatment on 7 May, flew to London on Tuesday.

    No details were given about the meeting but it is believed to be the first face-to-face encounter between Nigeria's two most senior politicians in more than two months.

    Buhari, 74, has not been seen in that time and has now spent nearly four months of this year out of the country, prompting growing calls for clarity about his fitness to govern.

    His condition has not been disclosed but aides have previously played down rumours that he was terminally ill with cancer or even dead.

    His wife Aisha, who flew to London earlier this month, on Monday posted a cryptic message on her Facebook page in response to a Nigerian senator's description of Buhari as “the absent Lion King”.

    “God has answered the prayers of the weaker Animals. The hyaenas and the jackals will soon be sent out of the kingdom,” she wrote.

    NAMPA/AFP

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  • 07/12/17--16:00: Cry, the beloved country
  • Cry, the beloved countryCry, the beloved country The SME Bank scandal reached epic proportions this week when the High Court ordered the embattled institution be placed under the control of the Master of the High Court for provisional liquidation. This was highly expected given the mess the bank found itself in. The Bank of Namibia had to do the right thing, which was inevitably to wound up the SME Bank affairs after its management failed to recover an approximate N$200 million invested in neighbouring South Africa. It is sad that local workers, who used to work for the SME Bank, have been left on the edge, while it is rumoured that their Zimbabwean colleagues have since been redeployed at that country's Metropolitan Bank, which was a shareholder in the Namibian bank. The public wants to know how the bank failed and why no one has been punished to this day. Apart from suspending directors, the fact that no individual has been found legally responsible for the failure has left us puzzled. The SME Bank failure is a public concern, because taxpayers' money has been tampered with and has resulted in great economic harm. It is not just a concern for shareholders. The mere fact that the bank has been declared bankrupt and cannot fully continue with its operations when a huge amount of taxpayers' money has already been sunk reeks of negligence and someone must face the music. The head of state has promised to make good governance the hallmark of his administration. Why is there a deafening silence from State House on this embarrassing matter while it is clear to see that some officials have failed in their fiduciary responsibilities? The president has clearly failed to act on this issue and this does not augur well from a good governance point of view. Why are Swapo politicians using litigation as justification not to debate the issue in the National Assembly while the matter is clearly in the public interest? Corruption will bleed this country dry, and as the case with the SME Bank, the hyenas have gnawed at our resources and there is nothing left to chew. Cry, the beloved country!

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